BPP401k.com Newsletter
April 15, 2009
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Employees and Employers Out of Synch on Range of Retirement Issues - Summary: At a time in our country's history when alignment of retirement issues between employers and their employees is becoming increasingly important, findings from MetLife's "7th Annual Employee Benefits Trends Study" highlight the fact that the two groups are out of synch on some key retirement issues ranging from advice to income. Located at: 401khelpcenter.com. Click on headline for full article.
Economic Turmoil Changing Way 401k Investors Think About Retirement Needs - Summary: Barclays Global Investors released the results of a comprehensive survey showing how the ongoing economic downturn is eroding the retirement confidence of 401k participants. Notably, the survey indicates that participants give equal importance to guaranteed retirement income and to covering their health care costs when it comes to improving retirement confidence. Located at: 401khelpcenter.com. Click on headline for full article.
Comments on Restoring Confidence: Saving the Future of Retirement - Summary: Good thoughts from a media briefing sponsored by BGI titled "Restoring Confidence: Saving the Future of Retirement." The session featured insights from some new participant research and perspectives about the current plan-trends landscape. Located at: Plan Sponsor Institute Blog. Click on headline for full article.
New Website: Understanding Your Retirement Paycheck - Summary: The National Endowment for Financial Education has developed this new website to help people optimize their retirement paycheck by making wise decisions. Located at: Decumulation.com. Click on headline for full article.
Market Volatility Leaves Many Wondering About Safe 401k Plan Investments - Summary: After months of severe market volatility, experts and regulators are wondering whether qualified default investment alternatives, or QDIAs, are the most appropriate investment options for all 401k plan participants. Located at: Workforce.com (free registration may be required). Click on headline for full article.
Andrews: Dumping the 401k Would be a Mistake - Summary: A leading Congressman on pension issues, Rob Andrews (D-New Jersey), said that it would be a mistake to do away with the defined contribution system. Located at: Planadviser.com. Click on headline for full article.
Is the 401k Ready for Change? - Summary: The 401k may be "down", but the reports of its death are as exaggerated as Mark Twain's death once was, according to Kristi Mitchem, Head of Defined Contribution, Barclays Global Investors. Located at: Plansponsor.com (free registration may be required). Click on headline for full article.
Providing Independent Advice Could Fortify 401k System - Summary: A key lawmaker involved in setting retirement policy is angling to strengthen the 401k system by providing individual investors with increased access to independent invest.advice. Located at: Workforce.com (free registration may be required). Click on headline for full article.
The Future of Retirement Plans - Summary: Retirement plans, retirement programs and the very concept of retirement are all changing at a rapid pace. The current economic "war" will drive more change at several levels: government policy, employers' plan-design decisions and worker and individual decisions on participation, contributions, asset allocation and distributions. Many retirees are already being forced to change their decisions on spending, investments and lifestyle, among other things. Located at: Wall Street Journal Online. Click on headline for full article.
Identity Theft and Participant Loans - Summary: 401k plans offering participant loans may be subject to a Federal Trade Commission identity theft prevention rule if the sponsoring employer is a "financial institution" or "creditor," according to new comments from FTC staff to the law firm White & Case LLP. Located at: Mercer. Click on headline for full article.
Plan Loans to be Exempt From Truth-in-Lending Disclosures - Summary: Qualified plans that make loans to participants will, effective July 1, 2010, no longer be required to make detailed disclosures under the Truth in Lending Act. In providing an exemption from governing Regulation Z, the Federal Reserve has acknowledged the inherent differences between commercial loans and plan loans, in which payments of interest and principal are reinvested in the participant's account and the loan is not subject to finance charges imposed by a third party. Located at: CCH. Click on headline for full article.
Form 5500 Extension Request – An IRS Nightmare - Summary: The IRS's management of the Form 5558 extension requests reminds one of a bad horror film. This article shares a third party administrator's experience with you in the event you have similar problems. Located at: Sungard/Relius. Click on headline for full article.
SPARK Institute on 401k Non-elective Safe Harbor Contributions - Summary: The SPARK Institute seeks relief for certain sponsors of safe harbor 401k plans who, due to the current downturn in economic conditions, are unable to make the three percent non-elective contributions required under Internal Revenue Code. Located at: SPARK Institute (PDF File). Click on headline for full article.
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